Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Looks like we are back to bouncing between the 1.95-2.10 range ??? Not bad considering all recent events.
It's all down to TK funding being secured! Copper prices above $9,400 and gold around $1,770 are helpful when we start mining operations (the copper grades reported last week at Hawiah were very impressive with more to come....)
2.5m of sales just through in the last 15 minutes won't do the SP much good..
Caught in a down draft from sales. May see another dip tomorrow before bouncing back again up to around 2.05 area. That’s my thoughts, for what it’s worth.
Elections were always going to be a sticky point that could potentially cause a delay and our fears were proven. That an waiting for local Ethiopian investors to get on board. Harry did say that the EG wanted local investment going into the mine and I think it is the EG that is the true cause of the delay and Harry can not say. But that’s all conspiracy theory stuff and my own opinion on it of course.
Time will tell. GLA...we’re gonna need it.
Hope we are not starting to see the sp drift away?
Tough day for mining small caps yesterday. Interested to hear from Harry next Tuesday, until then I suspect we'll continue to trade in the 1.9-2.05p channel. There is no change to what we have in the ground both a TK and Hawiah...
Can’t see that Harry can say anything that would be believed by the market in the webinar after the statements from the last one proved what can I say politely - erroneous!!!! Maybe if he named the FTSE partner (which he said he had permission to do ) that would add some value.
As always what matters is the binding agreements with credible names partners and /or money in the bank not more Harry moveable deadlines !!
Said in a previous webinar that a second Ethiopian group was interested in investing though timescale was probably stretched for them longer than harry said so worth watching Kefi webinars. He probably had to back down though on the timescale as politically for the Ethiopian government they can show more Ethiopian investment just before a election and maybe do a favour for the group involved.
Harry probably wanted to name the partners as well otherwise he would not be asking them for permission to name them, that was probably thrown of by the rejigging of the consortium make up as well as it would make sense to name them all in one hit.
Personally will watch the webinar and probably more than once to see what he says how he says it and what he does not say and try to read between the lines generally.
Do you guys think we put too much stock on what Harry says and how he says in these zoom meeting?
For example, if I am attending a meeting (as a civil engineer) with clients, project managers or local stake holders (Joe Public) I am careful with what I say but know it isn't legally binding.
I am how every lazer sharp and very legally covered if and when writing a business case or even speaking to local media about what every project.
I think due to the informal nature of these calls and let's be honest non of us being instrumental investors I think Harry takes a more relaxed approach and IMHO belive he is less worried about promising dates etc.
Institution*
Trouble is he can only say what he thinks at time which is usually a best case scenario coupled with harry being over optimistic which means Kefi generally gets there but the timescales are often well out.
Once the finance is a go though the whole picture changes then it a case of building the mine and the schedule will not be so elastic and be more predictable.
TW spoke to Harry after the last RNS who (reportedly) said that the 'banks will sign off this month and he will thus get all consents and all forms sorted by the end of May in time for the AGM.' I'd still like Harry to confirm this to be the case next week whether folks believe him or not! I haven't been here for years like some but the whole TK funding saga is getting a little tedious and deflects from the great assets that we have both in Ethiopia and in SA.....
"...which means Kefi generally gets there but the timescales are often well out..."
Rob, Kefi have never "got there".
Not a single financing scenario ove the last five years has come to fruition.
Only need to get there once and it’s a completely different scenario to five years ago with a government much more friendly to the prospect and a much greater gold price meaning TK could be 8 times more profitable than back then.